Two key projects of SEZ awarded to Dubai firm IFZA

Maldives' government today has awarded two projects which fall under the Special Economic Zone (SEZ) to popular Dubai firm International Free Zone Authority (IFZA) to develop the Special Economic and Financial Services Zone in Kaafu atoll Funadhoo in central Maldives and the Maldives Economic Gateway in Hoarafushi's lagoon in Ihavandhippolhu atoll in northernmost Maldives.

Both parties signed a Memorandum of Understanding (MoU) to officiate the awarding of the projects during a special ceremony held at Meerumaa Hotel in the capital city of Malé. On behalf of the Maldivian government, the agreement was signed by Minister for Economic Development and Trade Mohamed Saeed, while IFZA was represented by the company's Chairman Martin Pedersen.